FxWirePro: USD/KRW remains well supported below 1,150 mark, stay bearish
USD/KRW is currently trading around 1,143 levels. Pair made intraday high at 1,147 and low at 1,142 marks. Intraday bias remains bearish till the time pair holds key resistance at 1,148 marks. A daily close above 1,142 w…
Pair made intraday high at 1,147 and low at 1,142 marks.
Intraday bias remains bearish till the time pair holds key resistance at 1,148 marks.
A daily close above 1,142 will drag the parity higher towards key resistances at 1,148, 1,155, 1,168, 1,172, 1,186, 1,197, 1,203, 1,211 marks respectively.
On the other side, a sustained close below 1,142 will test key supports at 1,133/1,124/1,117/1,107 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
South Korea’s December L-money supply growth decreases to 7.5 % vs prev 8.0 %.
We prefer to take short position in USD/KRW only below 1,142, stop loss 1,153 and target of 1,132/1,127.
